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Professor David Newbery

Professor David Newbery

Emeritus Professor of Economics

Director of the Energy Policy Research Group

Member of Energy Transitions@Cambridge Strategic Advisory Board


David Newbery, CBE, FBA, is an Emeritus Professor of Economics at the Faculty of Economics, University of Cambridge, and Research Fellow in the Control and Power Research Group, Imperial College London. He was educated at Cambridge with undergraduate degrees in Mathematics and Economics, and received a PhD and ScD in economics also from Cambridge. He is a Fellow of the British Academy and of the Econometric Society. He is Vice-Chairman of Cambridge Economic Policy Associates and is an occasional consultant to the World Bank, Ofgem, Ofwat, and ORR. He has been a member of the Competition Commission and chairman of the Dutch electricity Market Surveillance Committee. He will be President of the IAEE in 2013. He is a member of Ofgem’s Low Carbon Network Fund and recent advisor on Electricity Market Reform to the House of Commons Select Committee on Climate Change.

Departments and Institutes

Faculty of Economics:

Research Interests

Liberalization, privatisation, competition and regulation in network industries, particularly electricity; Transmission access pricing, electricity market reform, climate change policy.



  • Users and Consumers
  • Risk
  • Economics
  • Social Frameworks
  • Policy
  • Distribution
  • Networks

Key Publications

Recent publications

Newbery, David, Pär Holmberg and Danny Ralph (2013) ‘Supply Function Equilibria: Step Functions and Continuous Representations’ JET, 148, pp1509-1551 available at and

Newbery, D.M. (2012) ‘Contracting for wind generation’ Economics of Energy & Environmental Policy,1(2) pp.19-36, and EPRG 1120 at

Newbery, D.M. (2012) ‘Reforming Competitive Electricity Markets to Meet Environmental Targets’ Economics of Energy & Environmental Policy, 1(1), pp 69-82

Newbery, D.M. (2011) ‘Oil shortages, climate change and collective action’ Phil. Trans. R. Soc. A 369, 1748-1761. doi: 10.1098/rsta.2010.0352

Holmberg, P. and D.M. Newbery (2010) ‘The supply function equilibrium and its policy implications for wholesale electricity auctions’ Utilities Policy, 18, 209-226

Newbery, D.M. (2010) ‘A Nuclear Future? UK Government policy and the role of the market’ Economic Affairs, June and

Newbery, D.M. (2009) ‘Market design for a large share of wind power’, Energy Policy pp. 3131-3134 at 15 August on line

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